So I've decided that I may trade in the tC fairly soon for an S2K and so far I've decided a lease would be the way to go.

Here are my reasons before I start hearing a lot about the disadvantages of leasing (which I am for the most part aware of)

1. I can't justify dropping $10K+ on a downpayment just to get my payments down to $450 or so a month
2. I can probably lease the car for a shorter term with little to nothing down for much cheaper than finance
3. I don't plan on really modding the car seriously maybe just an intake and/or exhaust. I thinkt he car is great as it is and an intake/exhaust setup would be easy to switch out when it is neccesary
4. I don't drive much anyway..I've had my 07 tc since july of 06 and have only put 20500 on the ODO and thats because when I first got the car I was doing a lot of driving
5. And as far as modding goes..any worthwhile mods (i.e. good set of coilovers, rims, forced induction, etc..) would take me quite awhile to save up for and decide on anyway

Anyways, can I get someones input on this? What exactly are the restriction for modding a car on a lease which I know is a no-no? Say I do get "caught" with modifications what exactly is the penalty?

Any input is apreiciated! Everyone on the forums has always been a big help even when I ask dumb questions

 

i dont knoww, why would you want a big ol rented car? in my opinion its a waste of money. but if you dont mind paying alot of money to borrow a car for a couple of years then go ahead, the s2k is soooo fresh stock lol

 

Yeah I know what you mean..but thats why I would avoid anything more than a 36 month lease..and the dealer can tell me how much left is owed on the car once the lease is over and what my payment would be at that point if I decided to buy it.

I understand its more of "renting" but if I had to drop like 10k on a car down payment.well..I'd rather find a car I could just pay off and mod and just make it better than an s2k (figuratively speaking )

Not to mention a car is never truly yours until you pay it off anyway..as long as you owe money on it the banks technically own it..lol that may not be entirely true but let me have my way of thinking :D

 

wasting your money!

 

thanks for the quick input so far. But I still have to ask..

What exactly are the penalties for being caught with mods on a lease? Thats also a big deciding factor for me.

But like I said..if I do find any worthwhile mods while on a lease it would be something that I could easily remove and repace when needed.

 

Leasing to me is like renting my apartment, I can't paint it or do any interior work really or else I get a fine :/ Probably the same with a car.. if you decide to modify it and they find out you could get a fine or somesort

 

idk man.. once you get that s2k.. your going to want it to be yours.. my cousin leases a brand new mercedes every year.. he's a lawyer and got madd $ so it doesnt really matter.. in your case.. i wouldnt lease a car.. your still young.. your throwing $ away.. i would rather buy a 95 civic before leasing a car

 

s2000 holds their value pretty well, you might as well buy it then just sell it when your done with it. just my opinion

 

I don't have the means to just buy it...hence why I'm considering leasing it then buying it after the lease if I can get a good enough deal..If I could "just buy it" believe me I would have done so already

 

if i were you, i would get a used s2k. it's cheaper, still reliable, and you could probably afford the payments on that vs lease.

all i know is i hate to just throw money away. after the end of the 3 years what has all your money gone to? nothing.

i'm gonna have to say lease ftl

 

We leased a van not too long ago. Worst mistake ever. From now on we finance. Mods are okay until you go to turn it back off lease. Intake and exhaust mods are easily reversed.

 

What made you feel it was such a big mistake? jw

 

I dont know why everyone is aginst leasing, it is definatley the way to go, you get more car for less money. Just think of it this way, your trading in you tc, which you probably still owe some money on, for a new car.... that means the bank holds the title to your car, they own it. That means you have been payiing "x" amount of interest on a car that you have "rented" for how ever long you have it . At least in a lease, you money factor "interest rate" should be way below 2.0% and its not amuritizing, "front loaded"! Unless you plan on keeping the car forever or your interested in a car that devalues alot faster than honda or toyota, like "chevy", LEASE IT!!!!!!!!!!!!

 

i'd get a used S2k instead for sure, and call it yours.

 

i agree. financing may not be one of the brightest ideas, and leasing would be worse. if you cant afford it, wait til you can, or dont get it at all.

 

also, hondas last forever. even if you think the previous owner romped on it, you'll probably get a good drivetrain warranty with the purchase of a certified used honda.

even better, try to find a used one for sale by an older gentleman or even better a woman. from my experience you usually get better deals buying from private sellers.

 

..

 

Any chnce I can get hook ups? I'm from so cal to y'know lol jk..thanks for the insight opinions though everyone

 

i say lease is the way to go. anything happen to the car insurance will cover it or when you return it you dont have to deal with headache of selling a car that has accident and what not on car fax. the only thing that i see bad about a lease is the mileage restrictions. my friend leased a RDX and has a $1500 damage waiver and there is also the option to buy at the end. why dish out the $$$ up front on a finance when you can lease and if you really love the car buy it out at the end. lease pay low monthly and always other routs to go at the end of lease. when you return the car and want to lease another car from the same dealer they will probably wont even care if you have overage in miles if it's not like 5-10K over.

just my .02

 

Leasing is only good if you like switching cars out every 2-3 years.

I personally would never lease a car. I more than likely would drive over the limited miles given, I like modifying my vehicles, & I see it as throwing money away because you won't own the vehicle.